Novozymes decides to enter the market of feed additives

Novozymes, Danish company leader in the production of enzymes, are planning to enter the market for probiotics (additives) for animal feed, which are an alternative to using antibiotics to promote animal growth.
"This could be really big. Can become a standard tool for producers worldwide, "said CEO Peder Holk Nielsen, in an interview at the company's headquarters in Copenhagen.
The pet food supplements industry has an annual turnover of $ 580 million, only 2.2% of revenue of $ 26 billion estimated for the pet products industry, but registers a growth of 10% per year, according to estimates by Novozymes and MarketsandMarkets.
According to Nielsen, Novozymes is in a good position to establish a "significant" business in the area of probiotics in the period of five to ten years. The company intends to develop the new business area with partners and estimates that the revenue potential of the area in the long run is $ 166 million.